Chapter 7
_______ is an ancillary benefit to data mining
Unusual customer activity
Data mining helps answers all of the following questions except _______
Which database entitiy is the optimal data repository
A _________ would be a less-than-optimal source of information for data mining
operational data store
RFM is a _________ technique
Simple
RFM is a ___________ technique
Sorting
What variable cluster categories are related to cluster data mining efforts?
: Demographic, psychographics, behavior, geographic
Which database entity(s) are normally used as a source of information for data mining?
A data mart or a data warehouse
Product usage rate is an example of ____________ variable
Behavior
________ is an example of a data mining process
Browsing information in search of patters and anomalies
_____ is the process of placing customers into groups such that everyone in the group has similar traits
Clustering
By adding the modeling component, organizations can enhane data minding by making is
Cost-justified, Measurable and optimal
What is primary data?
Data acquired directly from the original source
What is derived data?
Data created or inferred from the observation of other data
Data mining usually accesses a ________ for its souce of information
Data mart
Identifying transaction buyers is a ________ function
Data mining
A _____ would be the best source of information on the last 10 years of customer transactions
Data warehouse
A _________ can be learned by splitting the source set into subsets base on an attribute value test
Decision Tree
What is metadata?
Metadata is data that describes other data.
Home ownership is an example of a ___________Variable
Demographic
A data warehouse could contain __________
Demographic information, product information, promotion information, and prospect information
Recently the term "dashboard" is used to describe a _______
EIS
What is EIS?
EIS is an abbreviation for Executive Information Systems. It provides information for high-level decision making
________ is not a common data mining method
ERP
T/F Cluster analysis uses three key variables as a part of its process: Recency, frequency and monetary
False
T/F Data mining has many benefits, but the ability to create new differentiation strategies is not one of them
False
T/F Fraud detection is a major benefit of dtat mining
False
T/F Is is extremely hard, if not impossible, for a small business to perform data mining
False
______ is not a challenge in data mining
Fraud detection
Define an ancillary benefit of data mining?
Fraud detection.
State and climate are examples of a _________ variable
Geographic
________ Is not a data mining activity
POS sales transmission
Personality and lifestyle are examples of a _________ variable
Psychographic
__________ Is not a statitical model
RFM
What are the three variables used by an RFM data mining effort?
Recency, Frequency, and Monetary.
. Identify three data mining approaches excluding RFM, decision tree and clustering?
Regression analysis, correlation, data stream
CLuster analysis would not include ______ as a variable category
Scalable
Which industry is usually looked on as a data mining leader and why?
The financial services industry due to their long history of managing complex customer transactions as part of their core competency.
RFM is dependent on the use of ______ variable
Three
The best industry example of dynamic CRM is the
Toy
Decision trees are structured like a tree, where the leave represent classification and the branches represent conjunction of feature taht lead to these classifications
True
T/F A major data mining challenge is organizational obstacles to attaining the data necessary for analysis.
True
T/F An ancillary benefir of data minign is identification of unuasial customer activity
True
T/F Consumer Fatigue prevention is a benefit of data mining
True
T/F Fuzzy logis is not a data mining method
True
T/F Metadata is data that describes other data.
True
T/F Most data mining efforts use a data mart as their souce for data and information
True
T/F Organizations in the financial services industry are very proficient in data mining techniques
True
T/F RFM is an easy and cost effective data mining technique
True
T/F Regression analysis and correlation are statistic methods that can be used as part of the data mining process
True
T/F The casino industry is one of the best examples of dynamic CRM
True
